12 Dec , 2022 By : Monika Singh
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Indian benchmark indices BSE Sensex and NSE Nifty open over 0.7% lower. Nifty trades at 18,371, while Sensex is at 61,373. Bank Nifty gives up the 43,500 level, trading 0.4% down. The broader markets also slip in the morning trade, with Nifty Midcap 100 down by 0.36%. Sectorally, all indices barring Nifty Media fall, with the Nifty IT index falling 1.6% with constituents Infosys, LTIMindtree and L&T Technology Services down over 1.8%, dragging the index. Investors await the country’s November retail inflation data, October’s industrial production (IIP) data set to be released in the evening. Sula Vineyards and Abans Holdings IPO will open for subscription today, while Uniparts India shares will debut on the bourses.
After falling over 0.7% in the morning trade, benchmark indices NSE Nifty and BSE Sensex recoup their losses to trade mildly in the green. Nifty reclaims the 18500 level, trading 0.1% up, while Sensex gains 35 points from previous close to trade at 62,217.
Sula Vineyards IPO opened for public subscription on Monday, 12 December, and the issue will close on 14 December. The IPO price band has been fixed at Rs 340-357 per equity share. The offer is entirely an offer for sale (OFS) of up to 2.69 crore shares by selling shareholders.
“The Nifty shed slightly over a percent on a week-on-week basis. With couple of heavyweights imposing pressure on the last day of the week, Nifty was on the verge of a breakdown; but fortunately, bulls managed to defend their territory at the end. Now, taking a glance at the daily time frame chart, the Nifty is now placed slightly above the key support of ’20-day EMA’ which coincides with previous swing high of 18450. Hence, we continue to remain upbeat as long as 18400 – 18300 is not violated on a closing basis. Until then, any intermediate decline should only be construed as a profit booking before resuming the upward trend. On the flipside, 18650 – 18700 are the levels to watch out for. The moment Nifty surpasses this, one should gear up for yet another milestone of 19000 in near future.”
“The upward trend in the yellow metal continued, with bullion rising by almost 2%. Given the strength fin the prices, gold reached $1800. The dollar index was on track to post a weekly loss and foreign buyers of dollar-priced gold benefited from a weaker dollar. Investors are presently anticipating the US Fed Reserve rates, which are anticipated this week, in order to get an idea of the pace of rate hikes. We expect gold to trade lower towards 53920 levels, a break of which could prompt the price to move lower to 53770 levels.”
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